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Russia’s Retail Loan Rejections Ease Slightly in December to 81.9% After November Peak

High rates with stricter debt limits keep approvals scarce.

Overview

  • NBKI reports December’s rejection rate at 81.9% versus 82.7% in November, a modest month-on-month improvement.
  • The rate is 3.7 percentage points higher than December 2024’s 78.2%, signaling tougher screening year over year.
  • Approvals remain very low as lenders restrict risk-taking under tighter rules on borrower debt burdens, NBKI says.
  • Even applicants with strong credit scores face a 57% refusal rate, reflecting tighter underwriting.
  • Regional disparities persist, from 83.7% denials in Kemerovo Oblast to 79.0% in Moscow and 79.4% in St. Petersburg.